Core Viewpoint - Joby Aviation is expanding its focus beyond commercial electric air taxis to include defense applications through a partnership with L3Harris Technologies to develop a gas-turbine hybrid vertical take-off and landing aircraft for military use [1][2]. Group 1: Partnership and Development - Joby Aviation has signed an agreement with L3Harris Technologies to explore the development of a new aircraft class, specifically a gas-turbine hybrid VTOL that can operate autonomously for defense applications [2]. - The new VTOL will be based on Joby's existing S4 aircraft platform, which has primarily been developed with an all-electric powertrain [3]. - Joby previously demonstrated a hydrogen-electric hybrid version of the S4 that achieved a flight range of 521 miles, significantly exceeding the range of its battery electric prototype [3]. Group 2: Testing and Certification - The agreement with L3Harris is currently exploratory, with hopes that upcoming flight tests and operational demonstrations will lead to a military contract with the U.S. Department of Defense (DoD) [4]. - Flight testing is scheduled to begin this fall, with operational demonstrations expected in 2026 [4]. - Joby has been working towards obtaining Type 1 certification from the Federal Aviation Administration for its all-electric VTOL aircraft, aimed at urban passenger transport [4]. Group 3: Strategic Insights - Joby has collaborated with the DoD for nearly a decade, focusing on understanding the requirements necessary to meet military needs, particularly emphasizing the importance of range [5]. - The company aims to demonstrate the "missionization of its platform," integrating sensors, autonomy, communications, and payload capabilities to provide clear use cases for the DoD [7]. - L3Harris is expected to contribute its expertise in long-range, crewed-uncrewed teaming for various missions, including low-altitude support operations [8][9].

Financial Performance - Revenue increased by 6% year-on-year, with operating profit rising by 29% to £310 million, driven by revenue growth and transformation benefits [4][7][22] - Free cash flow improved by £91 million compared to the previous year, primarily due to increased earnings and lower restructuring costs [4][22][25] - Operating cash before CapEx and PMI costs was £118 million, £58 million higher than last year [23] Business Line Performance - The engines division saw revenue growth of 11%, primarily driven by aftermarket and original equipment (OE) growth [10][11] - Structures division revenue grew by 3%, with defense revenue up 10% due to increased build rates and improved commercial terms [14][16] - Engines operating profit grew by 26% to £261 million, with margins at 33.4%, while structures operating profit increased by 32% to £63 million, with margins rising from 4.7% to 6.7% [14][18] Market Performance - Aerospace and defense markets are experiencing structural growth, with record order backlogs and expanding aftermarket opportunities [2][33] - European and NATO defense spending commitments have significantly increased, positively impacting the defense outlook [2][35] Company Strategy and Industry Competition - The company is focused on leveraging its design-led positions in leading aircraft to drive growth, with a clear strategy centered around existing platform growth, new target opportunities, and future flight technologies [36][38] - The company aims to achieve high single-digit revenue growth to £5 billion by 2029, with a target of generating £600 million in free cash flow [52][54] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in delivering full-year guidance despite ongoing supply chain challenges and tariff disruptions [32][36] - The company anticipates substantial cash generation in 2025, marking an important inflection point towards long-term targets [52][54] Other Important Information - The company achieved its target of having 85% of its defense portfolio sustainably repriced six months ahead of schedule [5][16] - The introduction of US tariffs has been largely mitigated through various measures, including temporary importation under bond [19][62] Q&A Session Summary Question: The place of structures in the portfolio - Management emphasized that both businesses are poised for significant profit and cash upticks, with restructuring work nearing completion [58][59] Question: Clarification on engine repair business and tariffs - Management explained that tariffs affected the engine repair business, but mitigation measures have been implemented to restore growth [62][63] Question: Medium-term growth trajectory around cash - Management indicated that while specific guidance for 2026 is not provided, the business is expected to continue growing and improving margins [70][72] Question: Update on the A350 situation - Management acknowledged challenges but expressed confidence in meeting production ramp-up demands in collaboration with Airbus [78][79] Question: Cash flow generation ability of engines and structures - Management stated that both divisions are performing well and generating cash in line with expectations, though specific splits are not disclosed [86][87] Question: Update on additive manufacturing business - Management reported strong demand for additive fabrication technology, with ongoing efforts to certify components and industrialize the process [90][92]

Tracking to launch Starship mid AugustSpaceX (@SpaceX):Starship single-engine static fire demonstrating an in-space burn complete on Pad 1 at Starbase https://t.co/oLjKnAb6dg ...

Core Points - Danish Aerospace Company A/S (DAC) has signed a subcontract with Adaptix Ltd. to develop a 3D Bone Quality Imaging System for future use in space [2][9] - The contract is part of a project initiated by the European Space Agency and has the potential for a substantial development contract for a flight system [2][9] - The 24-month contract is valued at approximately EUR 100,000 (DKK 0.75 million) and focuses on creating a prototype for bone density measurements using a 3D Dual-Energy X-ray Absorptiometry (DEXA) system [9] Company Overview - DAC specializes in advanced medical instrumentation and engineering fields primarily within space applications [10][11] - The company has over 30 years of experience, having launched more than 3.2 tons of DAC-developed hardware into space [7] - DAC's expertise includes developing respiratory equipment, ergometers for astronauts, and adapting commercial medical equipment for spaceflight [13] Industry Context - Maintaining bone strength in space is critical for astronauts, as missions lasting four to six months can lead to over 10% loss of bone mineral density at critical sites [4] - The technology being developed has potential applications on Earth for elderly individuals and patients hospitalized for extended periods [5] - The project aims to enhance the performance of existing and new in-space exercise systems, which are crucial for astronaut health [9]

TRACKER! Join us for LIVE coverage as we track NASA SpaceX Crew 11 on their mission to the International Space Station. Join our community Discord! https://discord.com/invite/xCm9UpDPE4 This coverage is made possible by our amazing community! Consider becoming a The Launch Pad Member and go behind the scenes with early video access, behind the scenes live streams and more! SUBSCRIBE to The Launch Pad! https://www.youtube.com/@TheLaunchPad SUBSCRIBE to TLP Space News! https://www.youtube.com/@thelaunchpadnew ...

Falcon 9 launches 19 @Starlink satellites from California https://t.co/zNZFelEwVJ ...

Watch Falcon 9 launch 19 @Starlink satellites to orbit from California https://t.co/L5Nd9F4WvK ...

Watch LIVE as SpaceX launches Crew 11 for NASA to the International Space Station in low-Earth orbit, Crew 11 will launch from Historic Launch Complex 39A at NASA Kennedy Space Center in Florida. Join our community Discord! https://discord.com/invite/xCm9UpDPE4 This coverage is made possible by our amazing community! Consider becoming a The Launch Pad Member and go behind the scenes with early video access, behind the scenes live streams and more! SUBSCRIBE to The Launch Pad! https://www.youtube.com/@TheLau ...

Join us LIVE for our Countdown to Launch coverage of NASA SpaceX Crew 11. Join our community Discord! https://discord.com/invite/xCm9UpDPE4 This coverage is made possible by our amazing community! Consider becoming a The Launch Pad Member and go behind the scenes with early video access, behind the scenes live streams and more! SUBSCRIBE to The Launch Pad! https://www.youtube.com/@TheLaunchPad SUBSCRIBE to TLP Space News! https://www.youtube.com/@thelaunchpadnews OUR MISSION: To inform and inspire the explo ...

SpaceX Crew-11 mission aboard a Dragon spacecraft, on a Falcon 9 rocket, launches to the International Space Station, carrying NASA astronauts Zena Cardman and Mike Fincke, JAXA (Japan Aerospace Exploration Agency) astronaut Kimiya Yui, and Roscosmos cosmonaut Oleg Platonov on Thursday. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/42d859g » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Watch CNBC on ...